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HOLLINGER INC. COMPLETES ISSUANCE OF LIQUID YIELD OPTION(TM) NOTES

 TORONTO, Oct. 6 /PRNewswire/ -- Hollinger Inc. announced today that it completed its issue of Liquid Yield Option(TM) Notes (LYONs(TM)) on Oct. 5, 1993. Due to very strong institutional and retail demand the underwriter's over-allotment option was fully exercised increasing the gross proceeds to U.S. $171.0 million. The stated amount at maturity on Oct. 5, 2013 will be U.S. $557.8 million. Merrill Lynch & Co. acted as the sole underwriter.
 The LYONs are zero coupon convertible securities having a yield to maturity of 6 percent. They are convertible initially into common shares at a price of U.S. $11.294 (equal to Cdn $15.10 based on exchange rates at closing). By virtue of the accumulating interest the effective conversion price will increase over time and, for example, will be U.S. $15.18 (Cdn $20.30) after 5 years, U.S. $20.40 (Cdn $27.28) after 10 years and U.S. $36.84 (Cdn $49.27) at maturity. The full issue of LYONs is convertible into approximately 15.1 million Hollinger common shares.
 Hollinger is a Canadian-based international newspaper company which, through its subsidiaries and associated companies, is engaged primarily in the publishing, printing and distribution of newspapers and magazines in the United Kingdom, the United States, Canada, Australia, and Israel.
 -0- 10/6/93
 /CONTACT: J.A. Boultbee, vice-president -- finance and treasury of Hollinger Inc., 416-363-8721/


CO: Hollinger Inc. ST: Ontario IN: PUB SU:

TM -- NY085 -- 9510 10/06/93 17:28 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:250
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